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interest rates are going down because they can't get a hands l on the deficit because stocks are going down. that's the reality we're dealing with. consumer confidence this morning, listen, i'm worried about the fiscal cliff. i have my button on. anybody who tries to put words in the general public's mouth about the fiscal cliff, these confidence numbers dispel that notion that they're worried. they probably don't even really know the details. >> david kudlow, you are taking something of a risk-on strategy. you're going with the high-growth, high-dividend plays in this market, aren't you? >> yeah, we are. it's a strategy that's worked quite well p the uncertainty we've had over the fiscal cliff. with the positive economic data coming in, high-growth areas have done well for us. hi areas have helped diversify and steady the portfolio. >> you're not worried about impact that the fiscal cliff could have on the tax treatment of dividends out there? you get all these companies imposing early dividends, special dividends to try and slip it in before the end of the year. yet, you're still buy
interest rates are going down because they can't get a hands l on the deficit because stocks are going down. that's the reality we're dealing with. consumer confidence this morning, listen, i'm worried about the fiscal cliff. i have my button on. anybody who tries to put words in the general public's mouth about the fiscal cliff, these confidence numbers dispel that notion that they're worried. they probably don't even really know the details. >> david kudlow, you are taking something of...
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Nov 26, 2012
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. >> we should address the drivers of the deficit. social security is not currently a driver of the deficit. that's an economic pact. while the president supports engaging with congress on a separate tract to strengthen social security, for entitlements we need to look at medicare and medicaid. >> joining to us talk about that and more is alan krueger, chairman of the council of economic advisers. can you help us interpret what jay carney just said? a lot of republicans have gone into this debate and discussion saying, you want more in taxes but in the same time we have to have entitlement reform. is he taking that off the table, mr. krueger? >> the president has pursued a balanced approach all along. he's had entitlement reform on the table. if you look at budgets, there are tough decisions there relating to health care costs, which are driving our deficits. additional revenue from upper income earners. >> medicare is still on the table when it comes to discussions about the fiscal cliff but not social security? what exactly are we t
. >> we should address the drivers of the deficit. social security is not currently a driver of the deficit. that's an economic pact. while the president supports engaging with congress on a separate tract to strengthen social security, for entitlements we need to look at medicare and medicaid. >> joining to us talk about that and more is alan krueger, chairman of the council of economic advisers. can you help us interpret what jay carney just said? a lot of republicans have gone...
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Nov 22, 2012
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but state and local governments are also dealing with massive deficits. each state has a slightly different story, but across the country, there is a common theme. in many state houses, expenditures are outpacing income, and public pension obligations are drastically underfunded. as we reported in december 2010, some believe a day of reckoning is at hand for many states that could require another big bailout package. >> the most alarming thing about the state issue is the level of complacency. >> meredith whitney is one of the most respected financial analysts on wall street. she made her reputation by warning that the big banks were in big trouble long before the 2008 collapse. now she's warning about a financial meltdown in state and local governments. >> it has tentacles as wide as anything i've seen. i think, next to housing, this is the single most important issue in the united states and certainly the largest threat to the u.s. economy. >> why aren't people paying attention? >> 'cause they don't pay attention until they have to. >> whitney says it's
but state and local governments are also dealing with massive deficits. each state has a slightly different story, but across the country, there is a common theme. in many state houses, expenditures are outpacing income, and public pension obligations are drastically underfunded. as we reported in december 2010, some believe a day of reckoning is at hand for many states that could require another big bailout package. >> the most alarming thing about the state issue is the level of...
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Nov 26, 2012
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raising taxes doesn't lower the deficit at all when you add it up. we need to cut spending. the senate democrats are not helping. >> the fiscal cliff started before the new congress comes in, spending is something the new congress ought on take care of. that's what we elected them to do. let's talk about the fiscal cliff, solve this problem, move on to the next one, solve this problem involves higher taxes for some americans. >> but you know perfectly well, rick, the only rev lleverage yoe right now in order to cut spending is the tax issue. if you separate them, you raise taxes. when do you think spending cuts are ever going to come? you really believe they'll do it? >> i absolutely believe. i've been fortunate enough to spend time with the administration. i believe this administration spends there are spending problems and they want to address them. i believe they're willing to sit down and put everything on the table. i think we have to stop this mrilg gamesmanship -- >> they said they're taking social security off the table. they just said that. >> as far as the fiscal c
raising taxes doesn't lower the deficit at all when you add it up. we need to cut spending. the senate democrats are not helping. >> the fiscal cliff started before the new congress comes in, spending is something the new congress ought on take care of. that's what we elected them to do. let's talk about the fiscal cliff, solve this problem, move on to the next one, solve this problem involves higher taxes for some americans. >> but you know perfectly well, rick, the only rev...
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Nov 21, 2012
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there's a $1.1 billion deficit. if that keeps up -- >> trillion. you're talking trillion-dollar deficits every year. >> if that keeps up, the spending goes to $6 billion. what we take in goes to $4.6 billion. you have a $1.4 billion deficit you're going to deal with in ten years with $1 trillion debt. interest payments you have to make every year. when you're making interest payments of $1 trillion a year, everybody is going to stop investing. germany isn't going to buy our bonds anymore. >> maybe they want this. it seems like both sides are digging in. the president says he wants $ .6 trillion in revenue. that means higher taxes as well as taking the loopholes away. maybe he wants to go over the cliff to prove a point. >> going over the cliff to prove a point is like wrecking your car to show that you can't drive. i mean, it doesn't make any sense. what makes sense is to be thoughtful. a democrats and a republican two years ago, simpson/bowles, got together and put together some guidelines that nobody paid any attention to. it had to do with healt
there's a $1.1 billion deficit. if that keeps up -- >> trillion. you're talking trillion-dollar deficits every year. >> if that keeps up, the spending goes to $6 billion. what we take in goes to $4.6 billion. you have a $1.4 billion deficit you're going to deal with in ten years with $1 trillion debt. interest payments you have to make every year. when you're making interest payments of $1 trillion a year, everybody is going to stop investing. germany isn't going to buy our bonds...
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Nov 29, 2012
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social security is not a part of our deficit problem. so the only other two entitlements we got is how to detake care of the poor, and if we don't take care of the poor, it means additional expenses. >> would you be in favor of means testing medicare and social security? in other words, taking those wealthy americans who don't need those benefits and take them off those roles as a savings? >> there's no question that removing the cap for higher people that are in the higher income is one of the sources of income that i could support. no question about that. >> let me ask you this, congress pan. would you prefer top just deal with the revenue and forget about cutting at all at this point because of the slow economy? is that where you're headed here? >> no, no, no. >> so you do want to cut then? you do want to cut spending? >> we're going to have to do it. first of all, we have to find out what our target is going to be. if the target is going to be a mixture of cutting and a mixture of raising revenue, then we have to say we're not going
social security is not a part of our deficit problem. so the only other two entitlements we got is how to detake care of the poor, and if we don't take care of the poor, it means additional expenses. >> would you be in favor of means testing medicare and social security? in other words, taking those wealthy americans who don't need those benefits and take them off those roles as a savings? >> there's no question that removing the cap for higher people that are in the higher income...
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deficits of 1.25 trillion for the last five years. so we have a problem in our country that really needs to be resolved. we've become addicted to stimulus really through deficit spending, through 0% interest rates. >> how are you investing around this? >> we're comfortable investing in corporate bonds. bond spreads have tightened, but investors still being paid on a reasonable basis. we have structured products like clos. >> do you care if we go over the cliff? >> it's a concern, but i think it's actually not that much of a concern to me, no. >> so it's okay? >> we look at the fundamentals of companies when we invest and the fundamentals of companies are very strong. probably will affect the stock market more than the bond market. >> and so ultimately you really don't care. >> i'm agnostic to it. >> this is like the first person we've had on the set that said he'sing a n ing agnostic. >> you would almost like to say that it might even be a positive. >> i think that's what he is saying. >> it's really addressing the problem of the coun
deficits of 1.25 trillion for the last five years. so we have a problem in our country that really needs to be resolved. we've become addicted to stimulus really through deficit spending, through 0% interest rates. >> how are you investing around this? >> we're comfortable investing in corporate bonds. bond spreads have tightened, but investors still being paid on a reasonable basis. we have structured products like clos. >> do you care if we go over the cliff? >> it's a...
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. >>> in global market news, japan logging its fourth straight trade deficit in october. the european debt crisis with china over a territorial dispute actually reduced exports. and we continue to follow the latest developments out of the middle east. secretary of state hillary clinton traveled to the west bank this morning to meet with palestinian president mahmoud abbas. abbas heads the west bank, while the palestinian militant group hamas controls the gaza strip. hamas is considered a terrorist organization by the united states because it continues to refuse to recognize israel as a state. the united states has a policy of not negotiating with terrorist organizations. that's why she's not speaking with anyone in gaza. her visit comes hours after a meeting with israeli officials that lasted late into the night. >>> let's take a look at the markets this morning. we already showed you the futures. they are down slightly. dow futures down by about 23 points. in europe this morning, you'll see that -- also, by the way, a lot happened yesterday. ben bernanke started talking,
. >>> in global market news, japan logging its fourth straight trade deficit in october. the european debt crisis with china over a territorial dispute actually reduced exports. and we continue to follow the latest developments out of the middle east. secretary of state hillary clinton traveled to the west bank this morning to meet with palestinian president mahmoud abbas. abbas heads the west bank, while the palestinian militant group hamas controls the gaza strip. hamas is considered...
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we have to talk about comprehensive tax reform and talk about spending cuts and talk about debt and deficit reduction. pulling out an isolated piece like raising rates or taking a mortgage interest deduction or whatever it may be, it doesn't serve a purpose. you have to look at the entire problem. if you don't do that, we're all dead. >> where does norquist fit in? has your own view on the pledge evolved? >> i'm not for increasing tax rates. i'm for reforming the code, raising the base upon which those rates might be applied. i'm not for raising the rates. >> why is this attracting a -- why is revenue in general attracting the share of the debate? i heard complaints that say we're not giving due attention to reform, to entitlements. is it just that taxes are sexy, is that it? >> if the media would stop asking about it we could talk about comprehensive reform of entitlements and of spending. it's a complicated, complex process. if you pull out one part of it and have a debate over that part, you're redirecting america's focus from where it ought to be which is comprehensive reform of spendin
we have to talk about comprehensive tax reform and talk about spending cuts and talk about debt and deficit reduction. pulling out an isolated piece like raising rates or taking a mortgage interest deduction or whatever it may be, it doesn't serve a purpose. you have to look at the entire problem. if you don't do that, we're all dead. >> where does norquist fit in? has your own view on the pledge evolved? >> i'm not for increasing tax rates. i'm for reforming the code, raising the...
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we hear from people cut the deficit, expand medicare. we get a very inconsistent set of messages from them. no, i don't feel guilty at all, and i don't feel badly. i think -- i find there's a great commitment to solving the problem, but it gets to the specifics. i was in city hall in boston 44 years ago complaining about people who wanted a swimming pool in a neighborhood and they complaining because the dump trucks were coming in and out digging out the swimming pool and it was bothering them, and i complained to an old security council. he said, hey, kid, ain't you heard the muse? everybody wants to go to heaven, but nobody wants to die. i think that's what i get from too many of constituents. they want us to cut the deficit, but don't raise my taxes and don't cut this and don't cut that and expand this and expand that. we do our best, and i'm not troubled by our inability to do what some of the them want us to do, which is impossible. >> i'm a little troubled sometimes by the thoughtlessness of some people who are quick to criticize a
we hear from people cut the deficit, expand medicare. we get a very inconsistent set of messages from them. no, i don't feel guilty at all, and i don't feel badly. i think -- i find there's a great commitment to solving the problem, but it gets to the specifics. i was in city hall in boston 44 years ago complaining about people who wanted a swimming pool in a neighborhood and they complaining because the dump trucks were coming in and out digging out the swimming pool and it was bothering them,...
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a lot of the other issues surrounding deficit deduction are going to be a whole lot easier. and if we get this wrong, the economy is going to go south. it's going to be much more difficult for us to balance our budgets and deal with our deficits because if the economy's not strong, that means more money's going out and things like unemployment insurance and less money is coming in in terms of tax receipts and it just actually makes our deficit worse. so we really need to get this right. i can only do it with the help of the american people. so tweet -- what was that again? my2k or e-mail, post it on a member of congress' facebook wall. do what it takes to communicate a sense of urgency. we don't have a lot of time. we have a few weeks to get this done. we could get it done tomorrow. now, optimistically i don't think we're going to get it done tomorrow. but i tell you, if everybody here goes out of their way to make their voices heard and spread the word to your friends and family and co-workers and neighbs, i am confident that we will get it done and we will put america on t
a lot of the other issues surrounding deficit deduction are going to be a whole lot easier. and if we get this wrong, the economy is going to go south. it's going to be much more difficult for us to balance our budgets and deal with our deficits because if the economy's not strong, that means more money's going out and things like unemployment insurance and less money is coming in in terms of tax receipts and it just actually makes our deficit worse. so we really need to get this right. i can...
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we do have a huge budget deficit. i don't think taxes should be increased on the middle class but we have an almost record percentage of total national income going to the wealthiest 1% of americans. i don't see why they should be let off the hook. why shouldn't they pay their fair share? they are paying a lower tax rate today and effective -- >> that doesn't solve the problem. >> -- in about 80 years and it will help solve the problem because that means more revenues into government. almost everybody, everybody who has looked at this issue, common sense party people, will say that you've got to have some balance between spending cuts and tax increases, particularly on the wealthy. i don't see what the problem is. we had a tax increase on the wealthy in the clinton administration, the economy did tremendously well. we had a tax cut particularly on the wealthy in the bush administration, the george w. bush administration, and very few jobs were created and the median wage started to drop, and that ended in the great re
we do have a huge budget deficit. i don't think taxes should be increased on the middle class but we have an almost record percentage of total national income going to the wealthiest 1% of americans. i don't see why they should be let off the hook. why shouldn't they pay their fair share? they are paying a lower tax rate today and effective -- >> that doesn't solve the problem. >> -- in about 80 years and it will help solve the problem because that means more revenues into...
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we have a trillion dollar a year deficit. the math is simsimple. you need $4 trillion to keep the ratio of debt from growing. there has to be a tax element as well. you have to have more tax revenue. we could not afford the tax cuts we need to restore a piece of them. i have not been on wall street as long as warren buffet. but i agree. i was on wall street for 30 years. it didn't change my work ethic. i think people are driven by other things this is not going to change the work ethic including spending. >> let me play you both a clip today. at the end of the day, i don't want to quibble about the tax rate, but the more important thing is to imcrease the size of the wealth pie. the idea of keeping rates low and then you pay a low marginal rate of as shrinking pie i'd rather get the country on the proper footing. >> how do you get america back on a sound economic footing? butting your hats on, if you were in the room, what would the deal be? >> here is where i think this has to end up. one, recognize what we are facing is a spending problem. my fri
we have a trillion dollar a year deficit. the math is simsimple. you need $4 trillion to keep the ratio of debt from growing. there has to be a tax element as well. you have to have more tax revenue. we could not afford the tax cuts we need to restore a piece of them. i have not been on wall street as long as warren buffet. but i agree. i was on wall street for 30 years. it didn't change my work ethic. i think people are driven by other things this is not going to change the work ethic...
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that's about 40% of the $4 trillion deficit goal that we have. that's the same thing that simpson-bowles had, 40% revenue. so the only way you can reach that, incidentally, is to allow the rates to go up. just this idea of we're going to take a look at the tax code, change some credits and deductions, you can't come up with enough money. >> so any deal will have to include at least some hike in the tax rate. >> i don't think there's any other way to approach it. that's why the president has taken this position. if we're going to make sure, for example, that we spare families making $250,000 a year or less from any income tax increase, then this idea that we're going to go into the tax code and find $1.6 trillion over ten years becomes almost impossible. we need to protect those middle income families. >> you said today that congress should deal with the fiscal cliff crisis now, but tackle entitlements, the entitlement questions, later. yesterday, senator lamar alexander said the only thing the president has to do to get an agreement from republic
that's about 40% of the $4 trillion deficit goal that we have. that's the same thing that simpson-bowles had, 40% revenue. so the only way you can reach that, incidentally, is to allow the rates to go up. just this idea of we're going to take a look at the tax code, change some credits and deductions, you can't come up with enough money. >> so any deal will have to include at least some hike in the tax rate. >> i don't think there's any other way to approach it. that's why the...
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as a matter of deficit negotiations, i think boehner is not on strong footing. >> interesting. there are a lot of problems with obama care. i think obama would be the first person to acknowledge that. he didn't get a lot of things he wanted in there. but david frum, what is john boehner doing? what is he possibly trying to gain from this? >> okay, i'm going with your crazy luke a fox option. >> good. >> john baner is about to have to bring the more conservative part of his caucus, some very bad news. republicans don't have a wlost leverage. tax cuts expire whether without anybody doing anything. and republicans are going to end up yielding a lot more than they give -- than they get in the negotiations. and john boehner, as the chief negotiator is the man identified with that surrender. so he needs to put down a marker now that says to the right wheel of the caucus, hey, i'm with you. if it were up to me, 100%. i'm with you. and i am going to put it in writing. i'm completely in favor of doing all the things that would have happened if we won the election. however, we didn't win
as a matter of deficit negotiations, i think boehner is not on strong footing. >> interesting. there are a lot of problems with obama care. i think obama would be the first person to acknowledge that. he didn't get a lot of things he wanted in there. but david frum, what is john boehner doing? what is he possibly trying to gain from this? >> okay, i'm going with your crazy luke a fox option. >> good. >> john baner is about to have to bring the more conservative part of...
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as you know, we have a trillion dollar annual deficit and this would not close that gap at all. so the president needs to come up with a plan and for better or worse going to require leadership. no member of the senate or the house is going to be able to do this, this is something the president has to do by himself and he can't do it on the campaign trail. >> let me ask you this because you wrote an op-ed today and you wrote about divided government about the deal. you said divided government means that neither democrats nor republicans will be able to pass legislation along strictly partisan lines. we cannot tax our way back to budget surpluses and economic prosperity without major spending cuts and entitle 347b9 reforms we will continue running a huge deficit regardless of what anyone does on either side. for every dollar of revenue you give him, he'll give you $2.50 of spending cuts. if he gave you that on spending cuts, it would be 8$850 billon year would you do that? >> the president has said a lot of things, but what counts is what he's willing to put on the table and so f
as you know, we have a trillion dollar annual deficit and this would not close that gap at all. so the president needs to come up with a plan and for better or worse going to require leadership. no member of the senate or the house is going to be able to do this, this is something the president has to do by himself and he can't do it on the campaign trail. >> let me ask you this because you wrote an op-ed today and you wrote about divided government about the deal. you said divided...
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we can't afford to run 1.2 to $1.5 trillion deficits every year. and we can't afford to bring obama care on to the books, because we know it has already doubled in its predicted cost. it was -- >> congresswoman, forgive me for cutting you off. but final question, yes or no, you think you'll be on the hill come christmas talking about this? >> oh, no, no. i think what you're going to do is see us find a way to move the bulk of this, to get past the fiscal cliff to address that, and then to have a good discussion. i'm pleased to welcome the president, the democrats to the discussion. this is something some of us have been trying to get done for many years. and i'm delighted to see that they're finally putting their attention on it. we have to get the fiscal house in order. >> thank you so much. live for me on the hill today, appreciate it. >>> today, business titans. tomorrow, the business guy trying to take his job. that's right, president obama and mitt romney will be meeting at the white house for lunch in the private dining room, no, no. no camer
we can't afford to run 1.2 to $1.5 trillion deficits every year. and we can't afford to bring obama care on to the books, because we know it has already doubled in its predicted cost. it was -- >> congresswoman, forgive me for cutting you off. but final question, yes or no, you think you'll be on the hill come christmas talking about this? >> oh, no, no. i think what you're going to do is see us find a way to move the bulk of this, to get past the fiscal cliff to address that, and...
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>> what we need to put on the table in short-term is actual deficit reduction. we can do that through mandatory spending cuts in other areas. we can do it through the tax revenue that the president has called for. i think for instance, speaker of the house decided today to call the measure passed by the bipartisan senate to protect all families making $250,000 or less from any income tax increase december 31st, that would put enough revenue on the front end of this conversation to move us toward a solution. >> but so far i hear from you, in the short-term, no entitlements are on the table. >> only the medicare part of it, i want to be very careful. this means so much and we saw what a mess was made of it by paul ryan's budget, where the actual future of medicare was in doubt with his premium support plan. we don't want to go near that. we want to make sure that medicare, at the end of the day, is a program that is solvent, and we can count on it for generations 20 come. >> so if i'm a republican lawmaker watching this interview i'm saying, okay, he basically has
>> what we need to put on the table in short-term is actual deficit reduction. we can do that through mandatory spending cuts in other areas. we can do it through the tax revenue that the president has called for. i think for instance, speaker of the house decided today to call the measure passed by the bipartisan senate to protect all families making $250,000 or less from any income tax increase december 31st, that would put enough revenue on the front end of this conversation to move us...
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to reduce the deficit. but it also includes spending cuts. so, we did a trillion dollars in spending cuts as part of the budget control act over the next ten years and we're going to have to continue to implement that. so that's part of the plan. secondly the president's budget actually contains more health care savings than the bipartisan simpson-bowles commission does. he does it in a number of ways. for example he asked pharmaceutical companies to pay higher rebates to drugs for people who are on medicare and medicaid. he reforms the medicap wraparound insurance plan. right now medicare is essentially indirectly subsidizing those plans. so the president actually has substantial savings, not only in health care, but in many other areas. for example he eliminates a lot of the excessive agriculture subsidies. so the president's plan does have that balance of cuts, and revenue. >> interesting that you bring up health care because eric cantor, something we heard from speaker boehner, he would like obama care to be back on the table. i mean, dem
to reduce the deficit. but it also includes spending cuts. so, we did a trillion dollars in spending cuts as part of the budget control act over the next ten years and we're going to have to continue to implement that. so that's part of the plan. secondly the president's budget actually contains more health care savings than the bipartisan simpson-bowles commission does. he does it in a number of ways. for example he asked pharmaceutical companies to pay higher rebates to drugs for people who...
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all likelihood, taxes are probably going to have to go up across the board simply to deal with the deficit and everything else out there, so if you're a democrat, are you happy or unhappy because once that train starts rolling, it could hit l middle class, which the democrats warn they won't touch. >> i mean, i'm definitely happy about it. it's thanksgiving and i'm very thankful right now for millions of americans who came out on november 6th and declared loudly that the tax reform in particular making especially the highest income americans, you know, actually paying their fair share of taxes. that that's a priority and something that should be pursued in context of the fiscal cliff. the train is rolling and i think it's nice to see even some republicans now eventually realizing that taxes in particular tax fairness, does need to be a substantial part of this fiscal debate. >> but you just skated around my question, which is that if you're going to have real tax reform, almost every economist says the middle class is going to pay more, too. how are democrats going to handle that? >> i thi
all likelihood, taxes are probably going to have to go up across the board simply to deal with the deficit and everything else out there, so if you're a democrat, are you happy or unhappy because once that train starts rolling, it could hit l middle class, which the democrats warn they won't touch. >> i mean, i'm definitely happy about it. it's thanksgiving and i'm very thankful right now for millions of americans who came out on november 6th and declared loudly that the tax reform in...
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there have been 18 debt and deficit commissions since 1980. >> so you're saying they came up with spending cuts that satisfied you, you would -- >> i would go to the clinton tax rates in a heartbeat if we got clinton's gdp spending rates. >> well, one of the things i think liberals are starting to resent also, wolf, is that we are fighting so hard over this sort of modest issue of tax cuts for the wealthy. and people are completely dismissive about how devastating really entitlement cuts in medicaid would be, cuts for daycare and teacher spending and other things. >> we can't solve the problem -- >> we're starting to feel a little ant si about as this ends up being only about tax cuts. >> we just heard from senator thune, number three republican in the senate. erick, let me goat your thought, he says punt right now. kick the ball down six months or a year, deal with entitlement reform next year in a thoughtful way. deal with tax reform thoughtful in a new senate in the new house of representatives, but just go ahead right now and avoid the fiscal cliff, keep everything as is right now for
there have been 18 debt and deficit commissions since 1980. >> so you're saying they came up with spending cuts that satisfied you, you would -- >> i would go to the clinton tax rates in a heartbeat if we got clinton's gdp spending rates. >> well, one of the things i think liberals are starting to resent also, wolf, is that we are fighting so hard over this sort of modest issue of tax cuts for the wealthy. and people are completely dismissive about how devastating really...
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that's exactly what deficit reduction is. we're paying a little bit while we're healthy to protect against the likelihood, the small or great likelihood, we might have a debt crisis later. but my feeling is that now, that the economy is weak, growing at 1.8% for the last 24 months, we're not creating that many jobs, unemployment is still around 8%, the economy is still wheezing faintly. and when you're wheezing faintly, you need the strong medicine that high deficits offer. >> there's a lot of talk of the fear of the u.s. falling into the same hardships as europe. specifically greece. i want to play what senator lindsey graham had said about this. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece. >> okay. here's what you said in your article. deficit reduction takes economic activity out of the economy. if you want to see what austerity does to a weak private sector, just look at europe. which policies do you think would turn us into europe? how would that happ
that's exactly what deficit reduction is. we're paying a little bit while we're healthy to protect against the likelihood, the small or great likelihood, we might have a debt crisis later. but my feeling is that now, that the economy is weak, growing at 1.8% for the last 24 months, we're not creating that many jobs, unemployment is still around 8%, the economy is still wheezing faintly. and when you're wheezing faintly, you need the strong medicine that high deficits offer. >> there's a...
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>> we had 18 debt an deficit commissions since ronald reagan became president in 1981. in more than half of those, medicaid, medicare an social security were supposed to be part of fixing the debt and deficit, it never happened. if they kick the can down the road again without fixing entitlements in the process, entitlements still won't get fixed. >> we asked you to comment on the news and then sometimes you make news. the news about you, it says you are considering running in a primary to challenge saxby chambliss. are you any closer to a season? tell me what you're thinking and who is encouraging you to do that. >> well, you know, i said all along, no i'm not going to do this. i've been dismissive. in the past couple days, a number more prominent names have been calling and saying shy do it. i feel i owe them more consideration. i'm not closer to thinking i will do it, but i'm thinking about it more. my wife is adamant if i do it, i will be buried in the backyard before i announce. i think saxby chambliss, it's time for him to be primaried. >> your wife will bury you
>> we had 18 debt an deficit commissions since ronald reagan became president in 1981. in more than half of those, medicaid, medicare an social security were supposed to be part of fixing the debt and deficit, it never happened. if they kick the can down the road again without fixing entitlements in the process, entitlements still won't get fixed. >> we asked you to comment on the news and then sometimes you make news. the news about you, it says you are considering running in a...
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the whole tea party movement began as a principled protest against deficits and debt. people saying it was generational theft. the problem is if you start elevating the anti-tax pledge, that anti-tax absolutism, ahead of making a deal on deficit and debt, you're not going to get anywhere. only way you pay it down is if you agree we have to raise revenues. you can make an argument that the tea party movement should get behind a grand bargain, a deficit and debt deal, if they're serious about what they see and what they said was an existential threat to our country. we need to disenthrall ourselves from the extreme voices who choked off reasonable debate in washington. >> don't fear the grover. best quote of the day. john avalon, always a pressure. thank you for coming on. >>> looming fiscal cliff you're hearing so much about is one reason republicans are having a change of heart on this whole no tax pledge. the term fiscal cliff evokes scary imagery, but it is not so much a cliff as it is a set of stairs with the spending cuts and tax hikes getting more painful with eac
the whole tea party movement began as a principled protest against deficits and debt. people saying it was generational theft. the problem is if you start elevating the anti-tax pledge, that anti-tax absolutism, ahead of making a deal on deficit and debt, you're not going to get anywhere. only way you pay it down is if you agree we have to raise revenues. you can make an argument that the tea party movement should get behind a grand bargain, a deficit and debt deal, if they're serious about...
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it's not responsible for the deficit and debts. neither is social security. you're right, medicare and social security have long-term fiscal challenges. they need to be dealt with. i don't agree with connect connecting those to the deficit and debt program not created by those programs. >> i want to switch gears. as a senior member of the house intelligence committee i want to talk about benghazi. let me quote. part of what you said, there should be a laser-like focus on going after those responsible. but in the blur of partisan wrangling over talking points we seem to have lost sight of the vital objective. some on capitol hill and elsewhere seem determined to go after another bright diplomat ambassador susan rice. i want to talk about finding those responsible. the fbi seasonisn't saying much. from what i know we have heard zero about arrests. what can you tell us about these perpetrators? >> well, i can tell you that we still have a lot of work to do. the intelligence community is pursuing all of the leads. there is nothing that i want more. this is true i
it's not responsible for the deficit and debts. neither is social security. you're right, medicare and social security have long-term fiscal challenges. they need to be dealt with. i don't agree with connect connecting those to the deficit and debt program not created by those programs. >> i want to switch gears. as a senior member of the house intelligence committee i want to talk about benghazi. let me quote. part of what you said, there should be a laser-like focus on going after those...
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let's have a responsible solution that tackles taxes, that tackles entitlements, that tackles the deficit. let's have a comprehensive approach here that is a serious approach, no more kicking the can down the road. let's do it for real this time. >> fewer contortions usually better. i think we can all agree on that. anna navarro, great to see you any time of day. >>> all right, guys, here's the score card for the no tax pledge. 238 house members and 41 senators have signed the pledge. of those, only three are actually democrats and two of those three democrats will be out of office in january. i love the holidays. and with my bankamericard cash rewards credit card, i love 'em even more. i earn 1% cash back everywhere, every time. 2% on groceries. 3% on gas. automatically. no hoops to jump through. that's 1% back on... [ toy robot sounds ] 2% on pumpkin pie. and apple. 3% back on 4 trips to the airport. it's as easy as... -[ man ] 1... -[ woman ] 2... [ woman ] 3. [ male announcer ] the bankamericard cash rewards card. apply online or at a bank of america near you. >>> so the heated debate
let's have a responsible solution that tackles taxes, that tackles entitlements, that tackles the deficit. let's have a comprehensive approach here that is a serious approach, no more kicking the can down the road. let's do it for real this time. >> fewer contortions usually better. i think we can all agree on that. anna navarro, great to see you any time of day. >>> all right, guys, here's the score card for the no tax pledge. 238 house members and 41 senators have signed the...
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he has a lot of credibility on deficit reduction. while he said medicare and medicaid changes in those programs should not be part of the first step, the democrats have to look at that down the road in order to be constructive on deficit reduction. this is a senator, liberal democrat, part of the gang of six, somebody with a lot of credibility on deficit issues. i think that opens the door a little bit. you're seeing it on the democratic side. you're seeing it a little bit on the republican side. >> both sides are going to have to open the door more than just a little bit. they're going to have to make a deal. >> because the one mandate from the public was fix things. >> fix it. and do it quick. gloria, thank you. cnn's getting exclusive new information and photographs of paula broadwell, her affair with jen david petraeus forced him to leave the cia. now her friends are coming to her defense. >>> and a 7-year-old cancer patient tries a controversial treatment. medical marijuana. our dr. sanjay gupta will report. [ male announcer ] w
he has a lot of credibility on deficit reduction. while he said medicare and medicaid changes in those programs should not be part of the first step, the democrats have to look at that down the road in order to be constructive on deficit reduction. this is a senator, liberal democrat, part of the gang of six, somebody with a lot of credibility on deficit issues. i think that opens the door a little bit. you're seeing it on the democratic side. you're seeing it a little bit on the republican...
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they've been working to develop a deficit reduction plan. let me just ask you how you feel right now. 11 days since the president's met with congressional leaders face-to-face, do you think there needs to be more meetings like that right now? >> well, i think the president is doing the right thing. he's got to make the case to congress and the american people. not only of the dire consequences if we go over the cliff, but actually the tremendous upside. and one of the things we don't focus on enough, if we get a real deal, the amount of private capital that will come off the sidelines, invest in this country, we look pretty darn good compared to the faltering economy in europe, the slowdown in china. you know, this could actually be the biggest job generator of anything that's been talked about recently. >> one thing i'm confused by and maybe concerned by also, though, is something that you know well. that the outlines of a deal are pretty clear. there are different options, there are choices, there are tweaks around the edge, but the outlin
they've been working to develop a deficit reduction plan. let me just ask you how you feel right now. 11 days since the president's met with congressional leaders face-to-face, do you think there needs to be more meetings like that right now? >> well, i think the president is doing the right thing. he's got to make the case to congress and the american people. not only of the dire consequences if we go over the cliff, but actually the tremendous upside. and one of the things we don't...
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you can't continue to run these trillion-dollar deficits. but when you get down to the nitty-gritty about what you're actually going to cut, that's what's really hard, joe. >> if they don't fix it, it's going to be in everybody's backyard. thanks so much. >> that's right. >>> does the israel/gaza cease-fire prove that the u.s. can negotiate with what it's called a terror group? what about al qaeda? the implications next. load your, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined mpg c-max hybrid. tomato, obviously. haha. there's more than that though, there's a kick to it. wahlalalalallala! smooth, but crisp. it's kind of like drinking a food that's a drink, or a drink that's a food, woooooh! [ male announcer ] taste it and describe the indescribable. could've had a v8. ...and now... you! [ giggles ] ♪ the one and only, cheerios >>> fresh clashes between protesters and riot police in cairo within the past hour. demonstrations have been goin
you can't continue to run these trillion-dollar deficits. but when you get down to the nitty-gritty about what you're actually going to cut, that's what's really hard, joe. >> if they don't fix it, it's going to be in everybody's backyard. thanks so much. >> that's right. >>> does the israel/gaza cease-fire prove that the u.s. can negotiate with what it's called a terror group? what about al qaeda? the implications next. load your, with its foot-activated lift gate. but...
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he wrote in an opinion piece this week that the president's health care reform must be included in deficit negotiations. >>> before you tell your kids a story of christmas, listen up. the pope is out with a new book, and it debunks a lot of details about jesus' birth. more on that later on this hour. >> here on the help desk we're talking about paying down debt and saving for the future. with me this hour are greg olson and carmen. greg, this question is for you. suzanne told us the more she spends on paying off her debt, the less she has to save. >> how do we balance between saving for the future and paying down some credit card debt? >> you know, those bills come in, and you see that debt, and your eyes just pop out of your head. >> it's an easy question, but i'm very glad she asked it because it's something that most people get wrong. unless you have an introductory rate or you're paying a sfwler 0% introductory rate and have the ability to transfer that in the future, low credit card debt rates are considered 12% right now. show me where you can get an investment that's going to net on
he wrote in an opinion piece this week that the president's health care reform must be included in deficit negotiations. >>> before you tell your kids a story of christmas, listen up. the pope is out with a new book, and it debunks a lot of details about jesus' birth. more on that later on this hour. >> here on the help desk we're talking about paying down debt and saving for the future. with me this hour are greg olson and carmen. greg, this question is for you. suzanne told us...
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doesn't add to the deficit. but when it comes to medicare and medicaid, protect the integrity of the program but give it solvency for more and more years. >> congressman bill pascrell is a democrat from new jersey. thank you for talking with us. >> soledad, how are you this morning? >> i'm really well, thank you. i've had many, many days off. what are the democrats willing to give? you heard dick durbin there. tick off for me and be specific, what are democrats willing to give on in this negotiation? >> well, i think the senator's absolutely correct, we need to compromise. there's no question about that. and we will not, however, in any way, shape or form, jeopardize the planned benefits for social security. i mean that's kind of installed in the american people. we changed social security over the years in order to meet the demands that the program insists upon. we will do that. but we'll do that in a bipartisan fashion. >> okay, so compromise. social security is off the table. medicare, walk me through what ar
doesn't add to the deficit. but when it comes to medicare and medicaid, protect the integrity of the program but give it solvency for more and more years. >> congressman bill pascrell is a democrat from new jersey. thank you for talking with us. >> soledad, how are you this morning? >> i'm really well, thank you. i've had many, many days off. what are the democrats willing to give? you heard dick durbin there. tick off for me and be specific, what are democrats willing to give...
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it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run it to buy solvency for a long time. i think we should take social security off the table for the current fiscal cliff but be very honest about what we're going to achieve in the near term. i think we should create the equivalent of the simpson- bowles commission for social security and give them eight months to a year to come up with a planned to buy us 75 years of solvency for social security. then bring it to the floor for a vote and allow any bipartisan group who can come up with a credible plan that meets the same goal to offer their own to be voted on in the senate and house. i might add a wrinkle here that senator mark warner came up with that i think is sensible. there should be a decennial process. every 10 years, but they should measure whether or not social security still has 7
it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run it to buy solvency for a long time. i think we should take social security off the table for the current fiscal cliff but be very honest about what we're going to achieve in the near term. i think we should create the equivalent of the simpson- bowles...
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now we're facing debt and deficit. on the question of labour supply and investment of savings, it is hard to know what the rates would have been. but in general, tax rates to increase porges station in the labour market, particularly for women. there is every -- very strong evidence that lower tax rates make people save more prepared host: did it create jobs? guest: the tax policy itself does not create jobs. employers create jobs. there was a recession and at the bush administration in the beginning and one at the end. that continued into the obama administration. jobs come and go. at the moment, we have a significant job deficit. but i think if we look not just at the bush tax cuts in isolation, but the tax policy over the history of the united states and in other countries, we see the lower chart -- lower tax rates do contribute to getting jobs. host: ethan pollack, as did the bush tax cuts work? guest: they did work in the sense that they cost a lot of money and reduced surpluses. 80% of the debt added during the t
now we're facing debt and deficit. on the question of labour supply and investment of savings, it is hard to know what the rates would have been. but in general, tax rates to increase porges station in the labour market, particularly for women. there is every -- very strong evidence that lower tax rates make people save more prepared host: did it create jobs? guest: the tax policy itself does not create jobs. employers create jobs. there was a recession and at the bush administration in the...
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deficits and the u.s. in japan and an undervalued currency in china. think it's time to recommit with confidence to the three elements of a successful global economy, free trade, flexible exchange rates and a free flow of capital across borders based on open investment policy. i will give credit to the obama administration. they have been very good on investment. president obama was the first democrat in 30 years to put out an open invest a statement? why? because foreign direct investment creates jobs that are disproportionately export-oriented, disproportionately manufacturing oriented, and are 50 percent more likely to be unionized. this is capital we should be fighting for. we need to approach trade in the second among the term with that same degree of confidence going to the point that michael made. i think the world is ready to engage. the german chancellor proposed a trans-atlantic free trade agreement. at degrees to pick up on that the bill fourth. the trans-pacific partnership negotiated out in asia. the chinese followed closely. let's just pr
deficits and the u.s. in japan and an undervalued currency in china. think it's time to recommit with confidence to the three elements of a successful global economy, free trade, flexible exchange rates and a free flow of capital across borders based on open investment policy. i will give credit to the obama administration. they have been very good on investment. president obama was the first democrat in 30 years to put out an open invest a statement? why? because foreign direct investment...
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we have a trillion dollar deficit, two-thirds of dodd-frank hasn't been written, etc., etc.. i haven't heard any solutions i think you are right you what to publish online. i think the transparency is great. but we have a real situation. this fiscal cliff especially when added to what's happening. what can be done positively to get in the deadlock where you stand up the taxes. >> yes we have a huge problem. a 5 trillion-dollar debt. >> we keep talking about the fiscal recovery being different. you go back into the century and they all recouped a lot faster than this one. obama and hoover both reacted in the same way to the recession which was more spending, higher taxes and regulations and obama and hoover and fdr who never did anything. i think there's a very serious damage done to the economy and to the world economy and the approaches bush took running up to this and that obama is put on steroids. this is in the middle of many problems to continue to not be ended. and the was a very big problem. to be much more serious about spending and it was in that way before. >> how d
we have a trillion dollar deficit, two-thirds of dodd-frank hasn't been written, etc., etc.. i haven't heard any solutions i think you are right you what to publish online. i think the transparency is great. but we have a real situation. this fiscal cliff especially when added to what's happening. what can be done positively to get in the deadlock where you stand up the taxes. >> yes we have a huge problem. a 5 trillion-dollar debt. >> we keep talking about the fiscal recovery being...
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there still are training deficit. they are not all fully trained and there will be some attrition at the time. so it's tough to bring the force to capacity. >> from my good as a generator and trainer to the national spectrum if he will double us to the effect on the ground. i would merely highlight that in the early days, this is very much afghan treatment, we focused on quantity, filling the gaps, putting quantity out into the field. what we've started to do now in earnest is consolidate that by which i mean introduce my tactical training and specifically introduce collective command level training so we bring the formation from the field, put them to repackage, which is hopes to consolidate and improve the ansf ability. but it wouldn't necessarily keep me awake at night, but it's a very obvious challenge. it's the next step in developing the ansf. >> it all sounds so perfect. everything is just as it should. >> it doesn't keep you awake at night? >> i can run a herb range of operation issues, but in ansf, what is re
there still are training deficit. they are not all fully trained and there will be some attrition at the time. so it's tough to bring the force to capacity. >> from my good as a generator and trainer to the national spectrum if he will double us to the effect on the ground. i would merely highlight that in the early days, this is very much afghan treatment, we focused on quantity, filling the gaps, putting quantity out into the field. what we've started to do now in earnest is consolidate...
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deficits in use, low demand led growth in europe, and japan and an undervalued currency and china. i think it's time to recommit with confidence to the three elements of successful global economy. free trade, flexible exchange rates, and the free flow of capital across borders based on open investment policies. i'll give real credit to the obama administration. they been very good on investment the president obama was the first democrat in 30 years to put out an open investment statement. why? because foreign direct investment in the u.s. create jobs that are disproportionally export oriented, disproportionately manufacturing oriented, and/or 50% more likely to be unionized. this is capital we should be fighting for. i think we need to approach trade in the second obama term with that same degree of confidence going to the point that tran one may be a nothing the world is ready to engage with us. angela merkel proposed attended by free trade agreement in her speech this year. i think we should pick up on that and go for. there's a trans-pacific partnership in negotiated out in asia
deficits in use, low demand led growth in europe, and japan and an undervalued currency and china. i think it's time to recommit with confidence to the three elements of successful global economy. free trade, flexible exchange rates, and the free flow of capital across borders based on open investment policies. i'll give real credit to the obama administration. they been very good on investment the president obama was the first democrat in 30 years to put out an open investment statement. why?...
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oh my goodness deficit deficit deficit, fix the tax code, and what are they proposing lowering their own taxes. it's a sham and they ought to be rolled out of town if people understand what they were talking about. >> if people are worried about how they're going to take care of the homeless, how schools will be able to accommodate 30 kids in the class rom how people will be able to make ends meet when unemployment disappears. they can't be here. they can't afford it. they come here and write it off in their taxes $20 million a year ceos from these corporations, and continue to spread the hysteria and--and if their plan goes through the austerity plan, they and their company and their bonuses are actually the only thing that is going to improve in this economy. >> eliot: as they have over the past couple of years. income disparity is worse and worse and incomes are going up. lloyd blankfein telling people that they people should not expect to work for 25 years and then retire for 30. i don't think he understands what social security is all about. >>> the hispanic caucus said no today
oh my goodness deficit deficit deficit, fix the tax code, and what are they proposing lowering their own taxes. it's a sham and they ought to be rolled out of town if people understand what they were talking about. >> if people are worried about how they're going to take care of the homeless, how schools will be able to accommodate 30 kids in the class rom how people will be able to make ends meet when unemployment disappears. they can't be here. they can't afford it. they come here and...
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that's the real deficit that we need to worry about right now. for example jeffrey is part of this group. going around talking about cutting social safety net. his predecessor from the 20s and 40s owen young talked publicly about economic equality. he actually talked about how a man could not be free unless his wages were good. unless he was secure in his future and secured his retirement. it is a very different tune. >> eliot: let's make an important point. would the gold blankfein's of the world acknowledge there was some disparities the ratio of ceo to comp that was crazy and they said we're going to pare that back. >> the compensation is out of whack. we got bailed out. we haven't been criminally prosecuted. the stock market has doubled. stock market has doubled under the obama administration. who we don't like. who we fought valiantly to try to defeat. they would have a lot more credibility if they said that. again, i made the argument that you know, whatever it is, the business of the american people, you know, used to be general motors. it
that's the real deficit that we need to worry about right now. for example jeffrey is part of this group. going around talking about cutting social safety net. his predecessor from the 20s and 40s owen young talked publicly about economic equality. he actually talked about how a man could not be free unless his wages were good. unless he was secure in his future and secured his retirement. it is a very different tune. >> eliot: let's make an important point. would the gold blankfein's of...
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are also going to have to step up here and do some tough things, and the notion that somehow these deficits and our debt are not a threat to our national security and economic future is something i could not disagree with more strongly. there are some commentators on the left that suggest that. >> cenk: it's threat to national security. look, i want to balance the budget, right, but it's not a threat to national security. if oh, my god what if the interest rates go up, but they're at record lows. this is just fear mongering. it's republican talking points. and then second of all you're setting up a straw man. nobody's saying don't balance the budget. the question is how how do you balance it? they always send out a straw man, oh, well, see that commentators on the left don't want to compromise. they do want to. the question is what's in the compromise. the if you notice, the most important thing he said there they're going to have to go after entitlement programs. >> i think what we need to do and the president believes let's go for the big deal, for a 10-20 year period for the first time i
are also going to have to step up here and do some tough things, and the notion that somehow these deficits and our debt are not a threat to our national security and economic future is something i could not disagree with more strongly. there are some commentators on the left that suggest that. >> cenk: it's threat to national security. look, i want to balance the budget, right, but it's not a threat to national security. if oh, my god what if the interest rates go up, but they're at...
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it is not currently a driver of the deficit. that's an economic fact. >> we've been open to revenue by closinging loopholes as long as it's tied to spending cuts. >> as long as it's mitt romney's plan. that's what we're for. >> stephanie: what? you're acting like, it's almost like a hostage crisis. like they don't have the gun and are issuing demands. like what? >> what are you talking about? >> stephanie: exactly. mike in philadelphia, you're on the "stephanie miller show." hi, mike. >> caller: hi, steph how are you doing? >> stephanie: good, go ahead. >> caller: eric con tore brought obamacare back on the table. they won't leave that alone. >> stephanie: no, they are just the sorest losers in the world. it's like he won he won at the supreme court he won at the ballot box again moving on, we are not repealing obamacare. like really? the white house warned monday that american consumers will spend $200 billion less if the looming fiscal cliff is not averted and tax hikes are not spread across the board. the economy would take a
it is not currently a driver of the deficit. that's an economic fact. >> we've been open to revenue by closinging loopholes as long as it's tied to spending cuts. >> as long as it's mitt romney's plan. that's what we're for. >> stephanie: what? you're acting like, it's almost like a hostage crisis. like they don't have the gun and are issuing demands. like what? >> what are you talking about? >> stephanie: exactly. mike in philadelphia, you're on the...
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Nov 27, 2012
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social security does not contribute to the debt or deficit. it is not part of our deficit driver. it is an issue that can be solved. look, we did see it in the '80s, some tough medicine. everybody took it but it extended the life of social security for decades. we could do that again. it shouldn't be on the table and look, as it relates to medicare, let's remember this president extended the life of medicare through the affordable care act. these people are still talking about eliminating affordable care act or putting cuts to the affordable care act on the table when the affordable care act is helping bring the deficit down. >> bill: give it up. not to mention -- >> the election's over. the environment has changed. >> bill: thank you. i haven't heard one republican yet say they will vote to end the bush tax cuts for the wealthiest of americans. so what has changed? >> not one. >> bill: for them, not much. brad woodhouse in studio with us. communications director for the dnc. join the conversation any time at 1-866-55-press or on twitter or facebook. we'll be right back. >> announ
social security does not contribute to the debt or deficit. it is not part of our deficit driver. it is an issue that can be solved. look, we did see it in the '80s, some tough medicine. everybody took it but it extended the life of social security for decades. we could do that again. it shouldn't be on the table and look, as it relates to medicare, let's remember this president extended the life of medicare through the affordable care act. these people are still talking about eliminating...
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Nov 21, 2012
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we have a big budget deficit out there. somebody has got to pay more taxes and some spending has got to be cut. if it's not the wealthy paying more taxes and these are wealthy, remember, who in living memory have never taken home a larger share of total income and wealth in living memory, have never paid an effective tax rate that's as on their breath and income, these are the wealthy who are putting over something on everybody else. if they don't pay more, everybody else has to pay more. >> eliot: somebody's gotta pay it. i think the affirmative shift here is that the deal that the president offered last summer that was rejected by speaker boehner had a ratio of 10-1 cuts to revenue. the republicans said no way. we're not doing that. now we're essentially talking about something that's 2-1 and the republicans are acknowledging the revenue has to be raised. that's a sea change. >> that's progress. progress comes directly out of something called an election. >> eliot: that's right. those are good things, we think. >> undoubt
we have a big budget deficit out there. somebody has got to pay more taxes and some spending has got to be cut. if it's not the wealthy paying more taxes and these are wealthy, remember, who in living memory have never taken home a larger share of total income and wealth in living memory, have never paid an effective tax rate that's as on their breath and income, these are the wealthy who are putting over something on everybody else. if they don't pay more, everybody else has to pay more....
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Nov 28, 2012
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it is a $4 billion package of cuts to the deficit a combination of spending cuts and new revenue and about $2 trillion of that coming from getting rid of the bush tax cuts. at the same time while getting rid of the tax cuts for the wealthiest 2% of americans letting the tax cuts for 98% of americans continue because the middle class do need the help and the wealthiest people do not. so to get there of course, and by the way let's back up, right. the president put forth his plan on november 6th and mitt romney put forth his plan and the american people said no, we don't like that romney way of going which is to continue to coddle the rich. we agree with president obama. so now the negotiations are underway. about how to avoid going off the fiscal cliff. and what is the president doing? yesterday, he met with small business leaders. at the white house. the white house met with leaders of jack lew, the chief of staff. met with leaders of the chamber of commerce. today the president is meeting with some middle class americans who would be severely impacted if the middle class tax cuts we
it is a $4 billion package of cuts to the deficit a combination of spending cuts and new revenue and about $2 trillion of that coming from getting rid of the bush tax cuts. at the same time while getting rid of the tax cuts for the wealthiest 2% of americans letting the tax cuts for 98% of americans continue because the middle class do need the help and the wealthiest people do not. so to get there of course, and by the way let's back up, right. the president put forth his plan on november 6th...
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Nov 28, 2012
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president obama talks about his plan to reduce the deficit by raising taxes on top earners today. this part should not be a tough sell for the president especially with the general public. abc "washington post" conducted a poll that reaffirms that 60% say let's do it. while it's mostly democrats and independents in favor, 40% of republicans agree to do it as well. that should give republicans some room to negotiate. tom call from oklahoma tells politco-that he thinks we should extend tax cuts and change the tax for top earners at a later date. taxes could go up but that does not constitute voting for a tax increase. a meeting with a big list from goldman sachs we're back after the break. as i looked out across the battlefield at antietam. i saw the future of one great nation. but only barely, because the sun was like, way in my grill. george mcclellan, the general, hands me his pair of foster grant sunglasses, and i could see! my wife, mary todd, found them so fetching. >> he looked so fine i started to call him babe-raham lincoln. >> i was like, mary, please. >> you look like a b
president obama talks about his plan to reduce the deficit by raising taxes on top earners today. this part should not be a tough sell for the president especially with the general public. abc "washington post" conducted a poll that reaffirms that 60% say let's do it. while it's mostly democrats and independents in favor, 40% of republicans agree to do it as well. that should give republicans some room to negotiate. tom call from oklahoma tells politco-that he thinks we should extend...
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Nov 21, 2012
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cutting it doesn't change the deficit or debt picture. a year or two of extra work, think progress writes may not seem like much with his cushy corner office. for a factory worker or janitor it can be real problems. life expectancy is longer. >> you can't afford a little hike in your taxes? really? >> stephanie: no. >> can i make a request? can we take justin on line one? i want to hear this. >> stephanie: okay. justin in huntington beach. you're on "the stephanie miller show." hi justin. >> caller: hey, guys, how you doing? i don't know if this makes me the world's best father or the world's worst father because my son and i basically raised him watching your show. so but what's really funny is every time he hears reince priebus, he says reince priebus. it doesn't matter whether it is on the radio or in the car. it is pretty hysterical. >> reince priebus. >> stephanie: i'm sorry. do it again justin. >> really loud. reince priebus. [ laughter ] >> stephanie: what's his name? >> his name is logan. >> stephanie: logan. >> caller: if i can d
cutting it doesn't change the deficit or debt picture. a year or two of extra work, think progress writes may not seem like much with his cushy corner office. for a factory worker or janitor it can be real problems. life expectancy is longer. >> you can't afford a little hike in your taxes? really? >> stephanie: no. >> can i make a request? can we take justin on line one? i want to hear this. >> stephanie: okay. justin in huntington beach. you're on "the stephanie...
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these big tax breaks contributed to the debt problem, the two false wars created the deficit. we need to lock arms and walk up to the cliff and see what it is all about. >> bill: arnold you got it. alan in new bedford mass. >> caller: good morning, bill. i think there are two separate issues. the bush tax cuts were to expire in 2010. they were only extended was because of [ inaudible ]. period. >> bill: yeah, that was all over the debt ceiling negotiations. the president went along with it, but it's time to end them now. they are still making the argument that that is a job creator. no, it's not. no, it's not. >> announcer: this is the "bill press show." ♪ >> announcer: chatting with you live at current.com/bill press. this is the "bill press show," live on your radio and current tv. >> bill: how about it coming to you live indeed. coming you live on cirrus xm this hour only and on current tv. republicans talking out both sides of their mouth. on one side they are saying hey yeah, we realize we have to raise revenues. but huh-uh but we're not going to raise tax cuts on the w
these big tax breaks contributed to the debt problem, the two false wars created the deficit. we need to lock arms and walk up to the cliff and see what it is all about. >> bill: arnold you got it. alan in new bedford mass. >> caller: good morning, bill. i think there are two separate issues. the bush tax cuts were to expire in 2010. they were only extended was because of [ inaudible ]. period. >> bill: yeah, that was all over the debt ceiling negotiations. the president went...